Adjustment
Adjustment is a financial term that refers to the process of changing the terms of a loan or other financial agreement. This can include changing the interest rate, the repayment schedule, or the amount of the loan. Adjustment is often used to make a loan more affordable for the borrower, or to make it more profitable for the lender. Adjustment can also be used to adjust the terms of a contract or agreement between two parties.
History of Adjustment
The concept of adjustment has been around for centuries, with the earliest recorded use of the term dating back to the 16th century. In the early days, adjustment was used to refer to the process of adjusting the terms of a loan or other financial agreement to make it more favorable for the lender. Over time, the term has come to encompass a wide range of financial agreements, including contracts, mortgages, and other types of loans.
In modern times, adjustment is used to refer to the process of changing the terms of a loan or other financial agreement to make it more affordable for the borrower. This can include changing the interest rate, the repayment schedule, or the amount of the loan. Adjustment is often used to make a loan more affordable for the borrower, or to make it more profitable for the lender.
Comparison Table
Term | Definition |
---|---|
Adjustment | The process of changing the terms of a loan or other financial agreement. |
Interest Rate | The rate at which interest is charged on a loan or other financial agreement. |
Repayment Schedule | The schedule of payments that must be made to repay a loan or other financial agreement. |
Amount of Loan | The total amount of money borrowed in a loan or other financial agreement. |
Summary
Adjustment is a financial term that refers to the process of changing the terms of a loan or other financial agreement. This can include changing the interest rate, the repayment schedule, or the amount of the loan. Adjustment is often used to make a loan more affordable for the borrower, or to make it more profitable for the lender. For more information about adjustment, you can visit websites such as Investopedia, Bankrate, and The Balance.
See Also
- Interest Rate
- Repayment Schedule
- Loan Amount
- Contract
- Mortgage
- Loan Agreement
- Debt Consolidation
- Refinancing
- Credit Score
- Credit Report